I was thinking of a similar configuration for an investment vehicle. Make a charity whose goal is investing in good startups. Feed the returns back into investing. The goal is clout and influence rather than cashed out returns. I think this would better align incentives of investors and companies. It could also be used for "human capital" investments which are uncommon today except for student loans.

It wouldn't need to be relinquished upon death - but the trustees would be transferred over time.